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    Property profile & analytics
    OFF-MARKET Estimated value $1,625,000
    Hotels

    2759 Mt Pleasant St, Burlington, IA 52601-2137

    35,088 SF 4.29 ac lot Built 1969
    Entity Owned 5-yr Hold ~ Est. High Equity
    Property ID
    US25-0079868
    Property summary
    AI-generated overview

    This exceptional 4.29-acre property, located at 2759 Mt. Pleasant St in Burlington, Iowa (zip code 52601), presents a unique investment opportunity. The property, a former Howard Johnson's restaurant, boasts a prime location just off Highway 61, offering convenient access and high visibility. Its proximity to the Catfish Bend Casino and the Mississippi River ensures significant foot traffic and potential for a thriving business. The two-story building, constructed in 1969, features ample parking with 164 spaces. While the previous use was a 154-room hotel with 98 operational rooms at the time of closure, the property is currently being offered as a restaurant opportunity. The substantial lot size provides significant expansion potential or the possibility of developing complementary businesses. The asking price for this remarkable property is $2,900,000. This is a rare chance to acquire a well-situated, sizeable property with significant historical significance and redevelopment potential in a desirable location. The property's unique history and ample space offer a blank canvas for a creative entrepreneur to establish a successful and memorable establishment. The existing infrastructure provides a solid foundation for a variety of restaurant concepts.

    Property profile
    Verified
    Property type Hotels
    Use group HOTEL/MOTEL
    Year built 1969
    Total area 35,088 SF
    Lot 4.29 ac (186,872 SF)
    APN 11-31-101-045
    UPID US25-0079868
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Howard Johnson by Wyndham Burlington Hotel & Motel
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $1.58M
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $1.63M
    Owner & transaction history
    Hari Swami LLC · 5 yrs held
    Hari Swami LLC
    since 2020
    Last sale
    $1.7M
    7 recorded transactions
    2020
    $1.7M
    2019
    2017
    2006
    2006
    2004
    1969
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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